Ecommerce 

JD.com to fire underperforming senior managers as China’s tech lay-offs extend to executive suite

China’s winter chill has reached the executive suite, with the country’s second largest e-commerce player confirming reports that it will fire under performing senior executives after several Chinese tech companies have moved to cut rank and file staff in recent weeks amid the slowing economy.JD.com said it plans to lay off 10 per cent of its management at vice president level and above in 2019, using the “rank and yank” approach which forces department heads to identify and fire their least… Source link

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Ecommerce 

Why is JD.com spending US$400 million to buy this hotel in Beijing?

JD.com, China’s second largest e-commerce company, has closed a deal to buy the Jade Palace Hotel in Beijing for US$400 million, with the goal of transforming the five-star property into a new innovation and recruitment centre. The Nasdaq-listed company said on Monday that it acquired 100 per cent ownership of the hotel, which is located near the Chinese capital’s Zhongguancun technology hub. “The purchase of the hotel will serve JD.com’s long-term development,” a company spokesman said. “The hotel will be transformed into a space mainly for technology innovation and commercial…

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Ecommerce 

Chinese on-demand giants Meituan, JD.com invest in automation as delivery volumes surge

As more Chinese consumers embrace the concept of on-demand delivery – for everything from their morning coffee to furniture for a new apartment – the companies handling the logistics of that are investing heavily in automation to cut costs and speed up delivery. JD.com, China’s No. 2 online shopping platform, and Meituan Dianping, an online demand giant, both made their debut at CES in Las Vegas this week, showcasing their latest development efforts in autonomous delivery vehicles. At its CES booth Meituan demonstrated two autonomous delivery bots, one for a…

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Ecommerce 

JD.com restructures amid rising competition, slower growth and investor concerns

China’s second largest e-commerce player JD.com has announced a restructuring of its main shopping site and the creation of an office of the CEO to better serve its customer centric strategy and allay investor concerns amid rapid changes in China’s online shopping industry. The overhaul will divide JD Mall, JD’s main revenue driver, into three segments, according to an internal document distributed by the company’s human resource department on Friday. The segments include a unit responsible for understanding customer behaviour and market changes, another to provide services to satisfy customer demands,…

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JD.com founder Richard Liu’s rape accuser says she was lured to dinner

It was a Thursday evening in late August and a crowd had gathered at the Origami sushi restaurant in Minneapolis. One guest, a 21-year-old female Chinese undergraduate at the University of Minnesota, was initially expecting a dinner in honour of volunteers like herself. Instead, she found herself surrounded by more than a dozen Chinese executives, male attendees of a doctoral management programme for which she had been volunteering. Among them was Charlie Yao, a Chinese businessman she had met days earlier – and who had invited her to the dinner.…

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Lawyer for JD.com founder Richard Liu blasts Reuters for ‘one-sided’ report on rape case

The lawyer for JD.com founder Richard Liu Qiandong has slammed Reuters’ for its “one-sided” and “inaccurate” report on Liu’s rape case, calling its publication of witnesses names “reckless”. “[Reuters] jeopardises the integrity of the investigation and amounts to trying a case in the media before that investigation has concluded, and well before my client has even been charged with a crime,” Jill Brisbois, a US-based lawyer representing Liu, said in an email response to a request for comment on the Reuters story. “In so doing, Reuters continues to report a…

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Ecommerce 

JD.com offers no update on founder Richard Liu’s US case amid weak earnings

JD.com founder Richard Liu Qiangdong, who was arrested and then released in the US in August after being accused of rape, provided no update on the case in the e-commerce company’s first quarterly results since that incident. In a conference call before the US market opened on Monday, it seemed business as usual for Liu, who has maintained a low profile in China since his arrest on August 31, as he fielded questions from analysts, saying his personal focus was on “strategy, culture, team and new businesses”. When Wendy Huang,…

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China’s JD.com feels pressure as sales of big ticket items slow

Chinese e-commerce firm JD.com’s shares came under further pressure on Monday after the company reported its slowest quarterly revenue growth since its initial public offering in 2014. JD.com, which is backed by Walmart, Alphabet’s Google and Tencent Holdings, has already lost nearly half of its market value this year as it fights intense competition for Chinese online consumers. On Monday, it said slower sales in its core e-commerce business, particularly big ticket items, dented third-quarter earnings growth. While revenue rose 25 per cent from the same period a year earlier,…

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JD.com apologises for sexist marketing campaign as Singles’ Day shopping event nears

JD.com, China’s second largest e-commerce company, has apologised for a business unit’s sexist marketing campaign, which sparked an outcry among social media users more than a week before the country’s annual Singles’ Day, the world’s biggest shopping event. The newly established JD Beauty ran a campaign in which about 300,000 express boxes for the cosmetics products sold on the online retail platform were printed with the tagline: “Without lipstick, how are you different from a man?” About 1,000 express boxes with that tagline were recently shipped and received by customers,…

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JD.com founder Liu and wife attend Princess Eugenie’s wedding amid US rape case

JD.com founder Richard Liu Qiangdong, who was arrested and then released in the US last month after being accused of rape, showed up with wife Zhang Zetian in the UK last Friday, as the couple attended the wedding of British royal family member Princess Eugenie and Jack Brooksbank. Liu, 45, donned a black morning suit with bright pink tie and held hands with 24-year-old Zhang, who wore a matching pink dress and hat, as they made their way with other guests to St George’s Chapel in Windsor Castle. The live-streamed…

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